Last week, I kept hearing how the market was stagnant because everyone was waiting on our new Fed chairman’s first report to Congress. Then we had yesterday’s move and it was clear that not everyone was waiting. It looked like the market was set up to either continue yesterday’s trend or reverse it in dramatic fashion. I was looking forward to hearing what all the anticipation was about. It turned out to be no new news - no surprises. After listening to the statements, questions and answers, the market didn’t react significantly in one way or another. I had hoped for more, but I guess I should look at it as a positive that nothing he said contributed to an erosion of yesterday’s gains. Expectations for interest rates prior to the speech were consistent with his testimony and the treasuries have held relatively constant. If there had been any hint of a pause in rate hikes, the market was primed to jump. No such luck and now we can hopefully get back to trading.